InMobi Appoints Four Bankers for $1 Billion IPO Plans
Adtech firm InMobi has reportedly selected four investment banks to manage its upcoming $1 billion initial public offering. The company is aiming for a public listing within the next few months.
Adtech company InMobi has appointed four investment banks to oversee its upcoming $1 billion initial public offering (IPO). Bloomberg reported that JPMorgan Chase & Co., Jefferies, Kotak Mahindra Capital, and Axis Capital have been chosen to manage the process.
The company is expected to initiate its IPO proceedings this week, with a target listing within the next few months. The final size of the offering is still under discussion, and plans remain subject to change.
This move follows earlier reports, including one from a year ago, suggesting InMobi was targeting an IPO exceeding $1 billion. Initial valuation estimates have varied, with figures ranging from $8 billion to $10 billion, and a later report indicating a target of up to $6 billion.
InMobi is currently in the process of relocating its domicile from Singapore to India. Founded in 2007, the company provides marketing and monetization solutions for brands, advertisers, and publishers. Its offerings include Glance, an AI-based lock screen platform for Android devices.
Ahead of its potential 2025 listing, three co-founders reportedly bought back a significant stake from early investor SoftBank. InMobi had previously considered an IPO in 2021 but postponed its plans due to unfavorable market conditions.